Securemetric’s uptrend is likely to be extended after it breached a key resistance point on strong volume. The stock charted a long bullish candlestick and closed above the MYR0.25 resistance. Trading volume has been increasing in tandem with its share price, pointing to a bullish underlying momentum. This should propel the stock towards MYR0.275, then followed by MYR0.30. On the other hand, falling below the MYR0.225 support will kickstart a correction phase.

Source: RHB Securities Research - 2 Aug 2024